What is the difference between microcredits and simple bank loans? What, in fact, differs microloans from conventional loans? First of all, of course, the size. So, until recently, all banks could have borrowed at least 20,000 rubles, which was far from all, because many citizens simply do not have enough money to pay, and they do not need such large sums. Moreover, those loans that were issued as ordinary consumer loans were allowed to be returned no earlier than 12-18 months, and those who tried to get ahead of this term were fined. The micro-credit offered by banks now allows to borrow even less than 1000 dollars, which is very convenient. In addition, borrowers who have taken microcredit will not be punished for early repayment of funds. In general, the maturity of micro-loans can be set up to one year. Which banks issue microloans?
The issue of microcredits was not taken by all banks. Among the giants, VTB decided to do such an experiment, but considering that this financial institution recently likes to conduct all sorts of experiments with loans (it offers to buy housing in leasing, it changes the conditions for issuing mortgage loans) - it is not surprising. The list of other banks that started issuing microcredits is quite familiar, since it usually includes those institutions that specialize in issuing consumer loans. This is Renaissance Credit, Raiffeisen, and OTP, and Home Credit. In general, all those banks, where you could already get a loan to almost everyone.
However, in addition, these financial organizations are also known for the fact that their loan products are one of the most expensive in Russia. However, if the microcredit applicant is a participant in the salary program of one of these banks, they can make a certain discount on the interest.